MBA Notes

Management accounting MBA notes

Unit 1. Introduction to accounting

In this chapter you will learn about streams of accounting like Financial Accounting, Cost Accounting and Management Accounting and Comparison of these accounts with each other.

Unit 2. Basic of Financial Accounting

In this chapter you will learn about meaning of financial accounts, concept, conventions, principle, methods, type of accounts, type of expenditure, double entry bookkeeping and depreciation.

Unit 3. Process of Accounting

In this chapter you will learn journalizing, compound journal entry, subsidiary books, ledger posting, control ledgers, balancing of ledger accounts, trial balance, final account and adjustment.

Unit 4. Cost Accountancy

Introduction of cost accountancy, concept of cost center and different types of costs.

Unit 5. Elements of cost

Introduction of element of cost, type of cost, overheads, cost sheet and cost statement.

Unit 6. Material Costs

Introduction of material costs, stages in materials, storage function, valuation of material movements and inventory control.

Unit 7. Labour Costs

Introduction of labour cost, department, method for labour costs(Time keeping, time booking), remunerating the worker, (Time, payment, incentive/bonus, indirect monetary remuneration, non-monetary incentives) principle of good wages payment system and important terms in case of labour costs.

Unit 8. Overhead costs

Introduction of overhead costs, overhead classified procedure for charging overhead, actual and predetermined overhead rates, under and over overheads, Treatment of under and over overheads, control of over overheads.

Units 9. Marginal Costing

Introduction of marginal cost, Classification of cost, Concept of marginal costing , forms of operating Statement, basic concepts of marginal costing, graphical presentation of cost volume profit relationships, practical application of marginal costing, problems, multiplicity of the key factor and limitation of marginal costing.

Unit 10. Budgetary control

Introduction of budgetary control, advantages of budgetary control, pre-requisites for the implementation of budgetary control, type of budgets, fixed and flexible budget.

Unit 11. Standard Costing

Introduction of standard costing, advantage, limitation, comparison, types of standard(Current standard, Element costs) and analysis of variance(Material, Labour, Overhead cost variance).


· Summary in all units

· Key words in all units

· Illustrative problems

· Self assessment questions

· Answers to check your progress


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